In a statement by Data Pro and signed by its Client Services Manager, Kehinde Rasheed, the considerations for the rating assigned included the company’s financial performance, profitability, capital structure, asset quality, liquidity, corporate governance, risk factors and management.
The statement read in part, “Tingo Mobile demonstrated sustained growth in earnings with a compound annual growth rate of 30 per cent. “In the year 2022, revenue rose by 35 per cent to N463bn. Equity also provided 47 per cent funding for the company’s assets as against 22 per cent funding recorded in the previous year.”
Source: Loan Digest (loandigest.net)
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